Franklin Street Properties Corp. (NYSE:FSP) to Issue Quarterly Dividend of $0.01

Franklin Street Properties Corp. (NYSE:FSP) announced a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Shareholders of record on Friday, January 24th will be given a dividend of 0.01 per share on Thursday, February 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, January 24th.

Franklin Street Properties has decreased its dividend payment by an average of 51.9% per year over the last three years. Franklin Street Properties has a payout ratio of -14.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Franklin Street Properties to earn $0.12 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 33.3%.

Franklin Street Properties Price Performance

Shares of FSP opened at $1.80 on Wednesday. The business has a 50-day moving average of $1.88 and a 200-day moving average of $1.75. Franklin Street Properties has a 1 year low of $1.47 and a 1 year high of $2.62. The company has a market capitalization of $186.42 million, a price-to-earnings ratio of -4.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Franklin Street Properties (NYSE:FSP) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). Franklin Street Properties had a negative return on equity of 5.88% and a negative net margin of 32.11%. The firm had revenue of $29.68 million during the quarter. During the same quarter in the prior year, the business earned ($0.44) EPS. As a group, equities research analysts anticipate that Franklin Street Properties will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Franklin Street Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

Insider Buying and Selling at Franklin Street Properties

In related news, Director Bruce J. Schanzer purchased 110,589 shares of Franklin Street Properties stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $1.87 per share, for a total transaction of $206,801.43. Following the completion of the acquisition, the director now owns 3,405,463 shares of the company’s stock, valued at $6,368,215.81. This trade represents a 3.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey B. Carter purchased 18,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $2.12 per share, for a total transaction of $39,220.00. Following the acquisition, the insider now owns 18,500 shares of the company’s stock, valued at approximately $39,220. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 172,400 shares of company stock valued at $327,879. 6.20% of the stock is currently owned by company insiders.

Franklin Street Properties Company Profile

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.